Dublin, Jan. 06, 2021 (GLOBE NEWSWIRE) -- The "Global Life Science Analytics Market By Component, By Application, By End User, By Delivery Mode, By Type, By Region, Industry Analysis and Forecast, 2020 - 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Life Science Analytics Market size is expected to reach $12.5 billion by 2026, rising at a market growth of 8% CAGR during the forecast period. Life science and healthcare groups can put their data into prompt, significant usage with artificial intelligence (AI) analytics platforms. Life sciences analytics tools allow biopharma companies to keep their data protected while allowing their researchers and scientists to analyze drug outcomes in seconds and therefore clinical trial results can be easily compared with historical genomics data.
Analytics platforms have not up till now reached the level of complete maturity necessary to act as a separate enterprise solution and these are still seen as modest assets within pharmaceutical companies. As the surge in the volume of data delivered through the new biological, clinical process, chemical, epidemiological, economic, and some other channels endures to grow, a novel era of analytics is evolving with more demand for analytics compute services. The analytics service supplier landscape external to the pharmaceutical companies is various and will keep growing till pharma itself catches up with some other industries.
By Component
Based on Component, the market is segmented into Services and Software. In the year 2019, the services segment has the largest revenue share in the market. Due to the growing penetration of analytics services, like preventive maintenance, social media analytics, manufacturing process, projecting life science analytics for medical devices and equipment, and benchmarking services, the services segment has the bulk market share.
By Application
Based on Application, the market is segmented into Sales & Marketing Support, Research and Development (R&D), Pharmacovigilance, Supply Chain Analytics and Regulatory Compliance. The R&D segment is expected to propagate at the fast rate in the coming years. Growing R&D cost, reduction in innovations, and the influence of digitalization in research and development are among the few factors that are anticipated to drive the usage of life science analytics in research activities in order to increase its productivity.
By End User
Based on End User, the market is segmented into Pharmaceutical, Medical Devices, Biotechnology and Other End Users. The pharmaceutical segment in the year 2019 has led the market and has the largest revenue share of the market. This is accredited to the growing applications of life science analytics in the pharmaceutical sector like reduction in clinical trials, drug discovery, sales and marketing, and risk management.
By Delivery Mode
Based on Delivery Mode, the market is segmented into On-Premise and On-demand. The on-demand segment is anticipated to be the fastest-growing segment due to the growing requirement for on-demand disposition to decrease the overall cost acquired in the server and also to get personalized services as per the business requirements.
By Type
Based on Type, the market is segmented into Descriptive, Predictive, Reporting and Prescriptive. The Predictive life science analytics segment is anticipated to show rapid growth in the market, due to the enormous customer pool that is fascinated in accepting the existing market scenario. Furthermore, the cost connected with acquiring Predictive data or reports is relatively lower than that of prescriptive life science analytics, due to which these reports can be acquired by stakeholders across the market range.
By Region
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Asia Pacific is anticipated to grow at the high growth during the forecast period owing to the increasing prevalence of chronic diseases, growth of the life science industry, increasing adoption of progressive technologies, and the rising focus of main players on increasing their existence in emerging Asian countries.
The major strategies followed by the market participants are Product Launches and Partnerships. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation, Oracle Corporation, and IBM Corporation are the forerunners in the Life Science Analytics Market. Companies such as Accenture PLC, AllScripts Healthcare Solutions, Inc., and IQVIA Holdings, Inc., Cerner Corporation, SAS Institute, Inc., Cognizant Technology Solutions Corporation, and Infosys Limited are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation, IBM Corporation, Microsoft Corporation, Accenture PLC, Cognizant Technology Solutions Corporation, Infosys Limited, IQVIA Holdings, Inc., AllScripts Healthcare Solutions, Inc., Cerner Corporation and SAS Institute, Inc.
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Key Topics Covered:
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Life Science Analytics Market, by Component
1.4.2 Global Life Science Analytics Market, by Application
1.4.3 Global Life Science Analytics Market, by End User
1.4.4 Global Life Science Analytics Market, by Delivery Mode
1.4.5 Global Life Science Analytics Market, by Type
1.4.6 Global Life Science Analytics Market, by Geography
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.2 Market composition and scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2016-2020)
3.3.2 Key Strategic Move: (Partnerships, Collaborations, and Agreements : 2017, Apr - 2020, Oct) Leading Players
Chapter 4. Global Life Science Analytics Market by Component
4.1 Global Services Market by Region
4.2 Global Software Market by Region
Chapter 5. Global Life Science Analytics Market by Application
5.1 Global Sales & Marketing Support Market by Region
5.2 Global Research and Development (R&D) Market by Region
5.3 Global Pharmacovigilance Market by Region
5.4 Global Supply Chain Analytics Market by Region
5.5 Global Regulatory Compliance Market by Region
Chapter 6. Global Life Science Analytics Market by End User
6.1 Global Pharmaceutical Market by Region
6.2 Global Medical Devices Market by Region
6.3 Global Biotechnology Market by Region
6.4 Global Other End Users Market by Region
Chapter 7. Global Life Science Analytics Market by Delivery Mode
7.1 Global On Premise Life Science Analytics Market by Region
7.2 Global On-demand Life Science Analytics Market by Region
Chapter 8. Global Life Science Analytics Market by Type
8.1 Global Descriptive Life Science Analytics Market by Region
8.2 Global Predictive Life Science Analytics Market by Region
8.3 Global Reporting Life Science Analytics Market by Region
8.4 Global Prescriptive Life Science Analytics Market by Region
Chapter 9. Global Life Science Analytics Market by Region
9.1 North America Life Science Analytics Market
9.2 Europe Life Science Analytics Market
9.3 Asia Pacific Life Science Analytics Market
9.4 LAMEA Life Science Analytics Market
Chapter 10. Company Profiles
10.1 Oracle Corporation
10.1.1 Company Overview
10.1.2 Financial Analysis
10.1.3 Segmental and Regional Analysis
10.1.4 Research & Development Expense
10.1.5 Recent strategies and developments
10.1.5.1 Partnerships, Collaborations, and Agreements
10.1.5.2 Product Launches and Product Expansions
10.1.6 SWOT Analysis
10.2 IBM Corporation
10.2.1 Company Overview
10.2.2 Financial Analysis
10.2.3 Regional & Segmental Analysis
10.2.4 Research & Development Expenses
10.2.1 Recent strategies and developments
10.2.1.1 Partnerships, Collaborations, and Agreements
10.2.1.2 Acquisition and Mergers
10.2.2 SWOT Analysis
10.3 Microsoft Corporation
10.3.1 Company Overview
10.3.2 Financial Analysis
10.3.3 Segmental and Regional Analysis
10.3.4 Research & Development Expenses
10.3.5 Recent strategies and developments
10.3.5.1 Partnerships, Collaborations, and Agreements
10.3.6 SWOT Analysis
10.4 Accenture PLC
10.4.1 Company Overview
10.4.2 Financial Analysis
10.4.3 Segmental and Regional Analysis
10.4.4 Research & Development Expenses
10.4.5 Recent strategies and developments
10.4.5.1 Partnerships, Collaborations, and Agreements
10.4.5.2 Product Launches and Product Expansions
10.4.5.3 Acquisition and Mergers
10.4.6 SWOT Analysis
10.5 Cognizant Technology Solutions Corporation
10.5.1 Company overview
10.5.2 Financial Analysis
10.5.3 Segmental and Regional Analysis
10.5.4 Recent strategies and developments
10.5.4.1 Acquisition and Mergers
10.5.5 SWOT Analysis
10.6 Infosys Limited
10.6.1 Company Overview
10.6.2 Financial Analysis
10.6.3 Segmental and Regional Analysis
10.6.4 Research & Development Expense
10.6.5 Recent strategies and developments
10.6.5.1 Product Launches and Product Expansions
10.6.6 SWOT Analysis
10.7 IQVIA Holdings, Inc.
10.7.1 Company Overview
10.7.2 Financial Analysis
10.7.3 Segmental and Regional Analysis
10.7.4 Recent strategies and developments
10.7.4.1 Partnerships, Collaborations, and Agreements
10.7.4.2 Product Launches and Product Expansions
10.8 AllScripts Healthcare Solutions, Inc.
10.8.1 Company Overview
10.8.2 Financial Analysis
10.8.3 Segmental and Regional Analysis
10.8.4 Research & Development Expense
10.8.5 Recent strategies and developments
10.8.5.1 Product Launches and Product Expansions
10.8.5.2 Acquisition and Mergers
10.9 Cerner Corporation
10.9.1 Company Overview
10.9.2 Financial Analysis
10.9.3 Regional Analysis
10.9.4 Research & Development Expense
10.9.5 Recent strategies and developments
10.9.5.1 Partnerships, Collaborations, and Agreements
10.10. SAS Institute, Inc.
10.10.1 Company Overview
10.10.2 Recent strategies and developments
10.10.2.1 Partnerships, Collaborations, and Agreements
10.10.2.2 Product Launches and Product Expansions
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